nVent Electric plc (NYSE:NVT) Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel increased its stake in shares of nVent Electric plc (NYSE:NVT) by 13.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 101,835 shares of the company’s stock after purchasing an additional 11,764 shares during the quarter. Carnegie Investment Counsel’s holdings in nVent Electric were worth $6,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. ORG Wealth Partners LLC acquired a new stake in nVent Electric during the 3rd quarter worth $29,000. UMB Bank n.a. grew its position in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the last quarter. Anchor Investment Management LLC increased its stake in nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after purchasing an additional 280 shares during the period. Finally, Huntington National Bank raised its holdings in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

nVent Electric stock opened at $72.36 on Friday. The company has a market cap of $11.93 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 2.95 and a beta of 1.27. nVent Electric plc has a one year low of $55.62 and a one year high of $86.57. The business has a fifty day moving average of $73.20 and a two-hundred day moving average of $71.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the business earned $0.84 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio is currently 22.29%.

Wall Street Analyst Weigh In

NVT has been the topic of several recent research reports. Royal Bank of Canada boosted their price target on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. KeyCorp lifted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $86.17.

nVent Electric Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.